And double digits, softbank announced its second vision fun after its wildly popular first tech fund. How it is changing up the landscape. First, our top story, uber out with secondquarter results including a 5. 2 billion loss. Sales, bookings, and monthly users all missing estimates. Shares down to the lowest level since may. Here to crunch the numbers and break down uber eats an active users is Mandeep Singh of bloomberg intelligence. Payment fairly disappointing, what is your biggest take away . I think it was just a revenue miss, and part of that was related to the use of subsidies in their ridesharing business, i the food business. I think they have been using subsidies for a while. They have been seeing pricing pressure because uber eats is a very fragmented market. On the core ridesharing side, i think theyre doing fine. It is just the law of large numbers is catching up. To me, it looks fine. Emily i should add that the adjusted loss was lower than anticipated, 656 million vers
European equities on that historic day for the uk. We were just talking about this, the ftse 100 almost 6700. This index has recaptured its prebrexit highs and then some. The german dax still lagging. Italys might s mib is lower. Spains i bex is higher. There has been so much action lately. The euro hanging in there about 1. 10. The yen has been weakening again of course after the elections and bernankes trip and whether or not theres going to be helicopter money. Finally a check on crude oil. Yesterday the rally did the traders on the floor contribute to the rally we saw in stocks broadly. Energy one of the best performers. Today its moving the other way. Wti and brent lower. Which is by the way the best performer of the year. Up nearly 1 again at 2. 75. Todays economic agenda. Followed by the monthly federal budget and beige book. Kaplan and harker are speaking today as well. Young brands report earnings. Two prominent members of the fed making comments. Neel kashkari saying it isnt